8. Harley paid $200 cash to an assistant for hours worked during the grand opening. 9. Cash received from services provided during the second half of the month was $1,000. 10.
We estimated how many customers we need to breakeven each year. Cash flow Projection for five years Cash Flow Analysis Year 1 Beginning Balance $0 Capital $10,000 Revenue (10 Clients) 59,700 $66,700 Disposables Purchases 49,700 Administrative $7,400 (Advertising 200, Other costs 200, Airlines 1,000, Office 6000) Wages $4,000 (2,000 each for Benny and Janet) $61,100 Ending Balance $5,600 Year 2 Beginning Balance $5,600 Revenue (15 Clients) $89,550 $93,150
Part I: Executive Summary Alpine Wear, Inc.’s bank has asked major loan customers for the estimate of their borrowing requirements for the remainder of 2000 and the first half of 2001. Therefore, as an assistant of the company’s treasurer, our task is to prepare a cash budget and estimate the firm’s probable financing requirement before the president has a meeting with the firm’s bankers. After preparing a cash budget for Alpine Wear, Inc., we recommend the firm should keep on track of forecasted level, use the old 25-65-10 pattern, and take a $400,000 line of credit from the firm’s bank. Part II: The Initial Cash Budget Alpine Wear, Inc.'s sales are seasonal, peaking in the months of January through June. Roughly 25 percent of the firm’s customers take the discount, 65 percent pay within thirty days, and 10 percent pay late (about sixty days after the invoice date).
* June 2011, Netcrawler granted Michelle an employee stock option, valid until 2013 to acquire up to 1,000 common shares of Netcrawler at $20 per share. * April 30, 2012, Michelle exercised her stock option and acquired 1,000 common shares of Netcrawler at $20. * Michelle already owned 1,000 Netcrawler shares she previously brought from ex-employee for $10,000 * On same day she exercised her option, Michelle sold all 2,000 Netcrawler shares for $70,000 to an arm’s length party. Issue to analyze Michelle will like to know the tax consequence of her buying 1,000 shares of Netcrawler and selling 2,000 shares in the same year. Analysis based on above information Michelle is deemed to have received a benefit under 7(1), an employee acquiring the shares of an employer is said to not be dealing at arm’s length.
d. ___O_____ Purchased $8,800 of merchandise for cash. e. ___F_____ Received $100,000 from the issuance of common stock. f. ___F/O_____ Paid $1,200 of interest on a note payable. – When using the indirect method we add this back to the Net Income. g. ___I_____ Acquired a new laser printer by paying $650.
e. ____F____ Received $100,000 from the issuance of common stock. f. ____O____ Paid $1,200 of interest on a note payable. g. _____I___ Acquired a new laser printer by paying $650. h. ____N___ Acquired a $400,000 building by signing a $400,000 mortgage note. 3.
the administration and control of the acquisition of raw materials; set ups i.e. the resetting of the machinery to change the type of product made in subsequent production runs; and production runs i.e. making batches of products. Total overhead costs of £10,800,000 were analysed in relation to these activities as follows: £ Purchase ordering Set ups Production runs All direct labour is paid at £9 per hour At a recent board meeting, the four directors commented as follows: 2,400,000 3,200,000 5,200,000 20,000 10,000 2,000 10 200 200 60 90,000 5,000 4,000 30 300 60 30 90,000 15,000 Quantity of purchases orders 6,000 40 Quantity of set ups Quantity of runs 500 150 Selling price Raw (£ material cost per unit) 40 (£ production per unit) The
Question 2 of 100 (2B5-LS53) Flag for Review A manufacturer with seasonal sales would be most likely to obtain which one of the following types of loans from a commercial bank to finance the need for a fixed amount of additional capital during the busy season? *Source: Retired ICMA CMA Exam Questions Insurance company term loan. Transaction loan. Unsecured short-term term loan. Installment loan.
A company sells $10,000 of green widgets to a customer in March, which pays the invoice in April. Under the cash basis, the seller recognizes the sale in April, when the cash is received. Under the accrual basis, the seller recognizes the sale in March, when it issues the invoice. Expense recognition. A company buys $500 of office supplies in May, which it pays for in June.
At that time "footwear in the US is a 40 billion dollar market and 5% of that is already being sold by paper mail order catalogs," Hsieh and Lin decided to invest $500,000 through their investment firm Venture Frogs. The company was officially launched in June 1999, under the original domain name "ShoeSite.com". A few months after their launch, the company changed their name from ShoeSite to Zappos (a variation of "zapatos," the Spanish word for "shoes") not to limit themselves to selling only footwear. After minimal gross sales in 1999, Zappos revenue in 2000 was $1.6 million. In 2001, Zappos more than quadrupled their yearly sales, bringing in $8.6 million.